Finance Act, 1952

Finance Act, 1952

Finance Act, 1952

NO. XXIX OF 1952

[7th March, 1952]

An Act to continue for the financial year 1952-53 the existing rates of income-tax and additional duties of customs and excise, and to provide for the discontinuance of the duty on salt for the said year.

BE it enacted by Parliament as follows :-

2. Income-tax and super-tax

The provisions of section 2 of, and the First Schedule to the Finance Act, 1951 (XXIII of 1951), shall apply in relation to income-tax and super-tax for the financial year 1952-53 as they apply in relation to income-tax and super-tax for the financial year 1951-52, with the modification that in the said provisions for the figures “1950”, “1951” and “1952”, wherever they occur, the figures “1951”, “1952” and “1953” shall respectively be substituted.

3. Additional duties of customs and excise

The provisions of sections 5 and 8 of , and the Second and Third Schedules to the Finance Act, 1951 (XXIII of 1951), shall continue in force up to the 31st day of March, 1953, and accordingly in each of the said sections for the figures “1952”, wherever they occur, the figures “1953” shall be substituted.

4. Discontinuance of salt duty

For the year beginning on the 1st day of April, 1952, no duty shall be levied on salt manufactured in, or imported by sea or land into, the territory of India excluding the State of Jammu and Kashmir.

Misc – Laws and Bare Acts of India

Indian Laws – Bare Acts

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